Fero Mobile shuts down office in Nigeria

Fero Mobile shuts down office in Nigeria

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

LASG warns against developing Estates without layout Approvals

The Lagos State Government has warned Developers and Investors in the built environment to desist from developing Estates without...
- Advertisement -
- Advertisement -

Less than two years after it debuts its mobile phones in Nigeria, Fero Mobile has closed shop in Nigeria. People familiar with the matter said the company cited ‘harsh’ economic conditions for its closure.

Merchandisers who pleaded anonymity said they received a messaged on the closure of the company and its sales outlets as well as partner stores.

However, Nigeria’s mobile market is the most competitive with Transsion Holdings’ Tecno and its sister brands leading the market by close to 60% market share. Samsung mobile, Gionee and Huawei are major brands in the market but the recent return Nokia by HMD Global has further heightened competitive pressures in the market.

Read:  Capital Importation Rises by 147.5% in Q3 on Soaring Investor Confidence - NBS

Market analysts said there are over 30 mobile phone brands in the Nigerian market but just about 10 of them have the majority of the entire market share with pricing and promotions used to drive sales.

The latest ordeal of Fero further shows that the smartphone production and marketing business is not as rosy as it seems.

It was revealed in an investigation that the Fero brand seemed to have been abruptly put on hold as loads of criticisms and controversies trailed its marketing and servicing centres.

Fero Mobile is owned by Midcom Group, a diversified retailer of mobile phones, consumer electronics, dairy products. In a company disclosure, the company valued itself at $1.5 billion.

Read:  Fero Mobile Introduces Royale Y2 Smartphone Into Nigerian Market (Photos & Specs)
Read:  DellEMC Supports New Age Banking Summit

We could not reach Fero Mobile for comments on the matter. Fero Mobile is available in other African markets, it is not clear if the closure would affect other markets.

Fero hit the headlines than with an apt introduction to its products. A telecommunication writer once described the Fero mobile as one of the fastest growing smartphone brand in Nigeria, integrated with soft and trending features.



Fero Mobile shuts down office in Nigeria

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Spectranet Partners Zenith Insurance, Offers SpectraSure – a Protection Cover for MiFis and Modems Against Theft and Accidental Damage (Photos)

The partnership with Zenith Insurance will further help nurture the relationship Spectranet has with its subscribers. The partnership embodies...

Rare Tree Forest — Developing Ecological Sustainability at Stamford American

SINGAPORE - Media OutReach - 19 February 2020 - Stamford American International School has spearheaded an innovative Rare Tree Forest initiative,...

Coronavirus Impact: People Matters TechHR Singapore postponed to September 2020

Strap: People Matters TechHR, Asia’s Largest HR & Work Technology conference is now postponed to 1st, 2nd & 3rd September 2020 due to the...

Asian Productivity Organization (APO) releases Report on Strengthening the Mongolian Productivity Organization and Increasing Productivity within Mongolia

ULAANBAATAR, MONGOLIA - Media OutReach - 19 February 2020 - In a newly released report, the Asian Productivity Organization (APO) recommends how the Mongolian Productivity Organization (MPO) could...
%d bloggers like this: